Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.
Borrowing Availability means, at any time, the lesser of (i) the Maximum Amount or (ii) the Borrowing Base, in each case less reserves established by Lender from time to time.
Borrowing Availability shall have the meaning assigned to it in Section 1.1(a)(i).
Examples of Borrowing Availability in a sentence
For purposes of computing interest and Fees and determining Borrowing Availability as of any date, all payments shall be deemed received on the Business Day on which immediately available funds therefor are received by Lender prior to noon Pacific Standard Time.
More Definitions of Borrowing Availability
Borrowing Availability means as of any date of determination as to all Borrowers, an amount equal to (i) the Maximum Revolving Loan Amount less (ii) any outstanding Loans made pursuant to the terms of this Agreement.
Borrowing Availability means, as of any date of determination, an amount equal to the lesser of (a) the Aggregate Revolving Commitments as of such date and (b) the result of (i) Combined Eligible Availability as of such date minus (ii) Consolidated Net Indebtedness as of such date (excluding the Outstanding Amount of Loans and L/C Obligations).
Borrowing Availability means:
Borrowing Availability means, at any time, the amount by which the Aggregate Revolving Commitment Amount exceeds the sum of the outstanding Revolving Loans, Swingline Loans and LC Exposure.
Borrowing Availability means as of any date of determination (a) as to all Borrowers, the lesser of (i) the Maximum Amount and (ii) the Aggregate Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding, or (b) as to an individual Borrower, the lesser of (i) the Maximum Amount less the sum of the Revolving Loan and Swing Line Loan outstanding to all other Borrowers and (ii) that Borrower’s separate Borrowing Base, less the sum of the Revolving Loan and Swing Line Loan outstanding to that Borrower.
Borrowing Availability means, as of any date of determination, (i) the lesser of (x) the Total Commitment and (y) the Borrowing Base minus (ii) the Aggregate Exposure.
Borrowing Availability shall have the meaning assigned to it in SECTION 1.1(a)(i).